Now, an email sent to employees by Mr Hardy, seen by Nottinghamshire Live, reveals the company has been unable to pay wages and has also placed doubt on the future of jobs.

The email said: "I appreciate you are all hungry for information and I promise you that I'm doing everything I can to preserve jobs and pay wages this month.

"Currently, despite best efforts from many people in collecting cash, we still aren't in a position to pay salaries tomorrow.

The email sent to Paragon Interiors staff

"However, my complete time, effort and energy will be focused on correcting this situation as soon as possible. I will provide a further update as soon as I possibly can."

Sources have described the atmosphere among staff at the company as "terrible". It is understood at least 50 people are employed at the firm.

Paragon has been in business for 26 years and is currently two months late filing its annual accounts, according to the Companies House website. According to national reports, it could be on the verge of entering administration.

For 2017, the firm's turnover stood at £62 million, but it reported an overall loss of £291,000.

Read More

Latest business news

Mr Hardy has also set up a new company - which was incorporated on February 14 - listed as PPDCL3 Limited. Mr Hardy is named as a director of the company, which is involved in building projects.

He has been the owner of Notts County since 2017 but the Meadow Lane club are now fighting a relegation battle.

In a message earlier in the week, he set out to reassure fans the club would not be affected by the situation at Paragon.

A statement on the Magpies' website said: "Further to recent speculation about the financial performance of Paragon Interiors Group PLC and any impact this may have on Notts County Football Club, I want to assure supporters that the club will not be affected.

"In the coming days I expect to receive a formal offer to purchase the club from an overseas consortium and more updates will follow in due course.

"In the meantime, I will continue to support the club as best I can while dealing with a very difficult and stressful situation at Paragon."

Nottinghamshire Live has contacted Mr Hardy for a comment.

Get the most important news straight in your inbox before 9am every day - sign up to Nottinghamshire Live's newsletter. No complicated forms to fill out, just enter your email address in the black box at the top of this page.